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Pending homes sales climb; inventory still low

cash for homeCHARLOTTE – Preliminary September pending home sales in the Charlotte region increased to 3,272 contracts, up 28.4 percent from 2,549 in September 2013, according to data released Tuesday by the Charlotte Regional Realtor Association.

“With home sales slowing across the country, it’s reassuring to see Charlotte continue to buck the trend,” said Joe Rempson, president of CRRA and Carolina Multiple Listing Services Inc., in a statement. “Our sales continue to show the strength of our market, while pending contract activity shows buyer demand has not let up. However, when looking at new listings, it’s still apparent that seller confidence has room to improve. ”

On Thursday, rates for 30-year fixed mortgages with zero points in Charlotte ranged from 3.86 percent to 4.07, and the national rate was 4.18 percent, according to bankrate.com, around one-fourth of a percentage point below the rates available a year ago.

The number of home sales in September increased 15 percent year over year, but was down 11.4 percent compared with August. In September, 3,253 homes were sold in the CarolinaMLS.

The average sales price in September was $228,085, a yearly increase of 3.2 percent. The median sales price, $179,000, rose 2.9 percent from a year ago.

Other highlights from the report include:

  • The list-to-sale-price ratio was 94.2 percent in September, a drop of 0.4 percentage point over last year.
  • New listings fell 1.7 percent in September from last year.
  • Inventory declined 11.2 percent, leaving the region with 15,017 homes for sale, a 5.0-months’ supply. A 6.0-months’ supply is considered to be a market in equilibrium.
  • The average number of days from list to close was 129, the same as September 2013.
  • The average number of days a home was listed as “active” and “under contract-show” was 72, compared with 91 a year ago.
  • Foreclosures and short sales accounted for 5.3 percent of all sales, down from 9.4 percent in September 2013.


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